Documents used for making payments from a company’s account, which can be created and printed on demand using specialized software and equipment. These instruments offer a flexible alternative to ordering pre-printed checks from a financial institution or third-party vendor. For instance, a small business might utilize this system to issue payments to suppliers or employees, tailoring the check format to their specific needs.
Employing this method can provide enhanced control over financial disbursements, reducing the reliance on external suppliers and potentially lowering costs associated with ordering and storing physical check stock. Historically, businesses were limited to ordering standardized check formats. The advent of desktop publishing and specialized software allowed entities to customize and generate these instruments in-house, leading to greater efficiency and adaptability.
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